Mittal tops the 'Rich List' in South Africa

Posted By: Staff
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Johannesburg, Nov 2: Indian-born industrialist, Lakshmi Mittal continues to top the South Africa 'Rich List' which ranks 150 wealthiest businessmen in the country.

The steel baron who does not even live in the country has managed to retain the position for the fifth consecutive year despite the fact that his riches have almost halved in the previous year due to the economic crisis.

The Rich list released by the weekly Sunday Times puts Mittal on the top position for his shareholding in Arcelor Mittal SA.

The value of his stake in Arcelor Mittal SA, which was born out of Mittal's take over of state owned IScor, has fallen to 16.95 billion rand versus 45.7 billion rand in 2008 due to the global economic slump.

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